Applied Materials Inc. Q4 Profit Increases, beats estimates

(RTTNews) - Applied Materials Inc. (AMAT) announced earnings for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $2.0 billion, or $2.38 per share. This compares with $1.59 billion, or $1.85 per share, in last year's fourth quarter.

Excluding items, Applied Materials Inc. reported adjusted earnings of $1.79 billion or $2.12 per share for the period.

Analysts on average had expected the company to earn $1.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.4% to $6.72 billion from $6.75 billion last year.

Applied Materials Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $2.0 Bln. vs. $1.59 Bln. last year. -EPS (Q4): $2.38 vs. $1.85 last year. -Analyst Estimate: $1.84 -Revenue (Q4): $6.72 Bln vs. $6.75 Bln last year.

-Guidance: Next quarter EPS guidance: $1.72 - $2.08 Next quarter revenue guidance: $6.07Bln - $6.87Bln